door knockerIn September 2013 over 40% more loans for house purchases were agreed than in September 2012*. This fantastic year on year improvement of mortgage approval is not just a testament to the success of the Help to Buy Equity Loan scheme available on new build property but to the property market and economy as a whole which has been much more optimistic.

New data published by the British Bankers Association (BBA) show that 42,990 mortgage loans were approved in September 2013, still a long way off the pre-crash levels of December 2006 when the figure peaked at over 78,000.

With the introduction of the Help to Buy Mortgage Guarantee, enabling lenders to offer 95% mortgages on new and second hand property, it can only be expected that the number of successful applications increases further, fueling the demand for property and creating a very buoyant housing market for 2014.

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*Facts and stats from: http://www.whathouse.co.uk/news/mortgage-blog-131106-new-house-purchase-mortgages-applications-hit-four-year-high-280#.UnpoJlRFDIU